* Panasonic soars, dividend tops market expectations
* Investors eye impact of Ukraine tensions on global markets
By Ayai Tomisawa
TOKYO, Feb 27 Japan's Nikkei average extended
losses into a second day on Thursday, moving further away from a
3-1/2-week high hit earlier this week, as the weakening of the
yen took a pause and as heightened tensions in Ukraine soured
But Panasonic Corp again was a standout performer,
hitting a four-week high after its full-year dividend plan beat
market expectations, a day after it soared on a report that the
firm may invest in a U.S. car battery plant.
The Nikkei was down 0.3 percent at 14,933.80 in
midmorning trade after shedding 0.5 percent the previous day. It
further moved away from 15,094.54 hit on Tuesday, the highest
intraday level since Jan. 31.
Index heavyweights lost ground, with SoftBank Corp
falling 0.8 percent and Fast Retailing Co dropping 1.4
Exporters were mixed, with Toyota Motor Corp and
Sony Corp both inching up 0.2 percent, while Nikon Corp
fell 1.1 percent.
The dollar edged up to 102.40 yen but remained well
within the previous session's trading range.
Analysts said the market may stay lacklustre as investors
were cautious against escalating tensions in Ukraine, which
triggered a selloff in risk assets in emerging markets.
"We need to keep an eye on whether it will not trigger
further selling in assets in the neighbouring countries as the
global market can get affected indirectly," said Shun Maruyama,
chief Japan equity strategist at BNP Paribas.
Investors were also awaiting U.S. Federal Reserve Chair
Janet Yellen's comments at the Senate Banking Committee in
semiannual testimony about monetary policy, which kept a check
Panasonic soared 3 percent to a four-week peak of 1,297 yen
after the company said it would pay a year-end dividend of 8 yen
per share, bringing its full-year payout to 13 yen. That topped
the market consensus for a 10 yen annual dividend. The stock had
risen 5.3 percent on Wednesday.
A fund manager at a Japanese asset management firm said the
news was a positive surprise, because Panasonic had paid an
annual dividend of 10 yen for the three years up to March 2012
before not paying any dividends last fiscal year.
The broader Topix index slipped 0.4 percent to
The JPX-Nikkei Index 400, an index launched this
year comprising firms with high return on equity and strong
corporate governance, dropped 0.5 percent to 11,027.69.